Symbotic (NASDAQ:SYM) Trading Up 4.3% – Should You Buy?

Shares of Symbotic Inc. (NASDAQ:SYM) traded up 4.3% during trading on Monday . The stock traded as high as $25.17 and last traded at $25.03. 468,186 shares changed hands during mid-day trading, a decline of 74% from the average session volume of 1,816,539 shares. The stock had previously closed at $23.99.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on SYM. BWS Financial reaffirmed a “sell” rating and set a $10.00 target price on shares of Symbotic in a report on Tuesday, November 19th. Northland Securities raised their price objective on Symbotic from $50.00 to $53.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 19th. William Blair reaffirmed a “market perform” rating on shares of Symbotic in a report on Thursday, December 5th. Cantor Fitzgerald reissued an “overweight” rating and set a $60.00 target price on shares of Symbotic in a report on Tuesday, November 19th. Finally, TD Cowen boosted their price target on Symbotic from $43.00 to $50.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. One analyst has rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $42.54.

Symbotic Trading Down 3.8 %

The firm has a market cap of $14.42 billion, a price-to-earnings ratio of -409.17 and a beta of 1.73. The company has a fifty day moving average price of $29.40 and a 200-day moving average price of $28.67.

Symbotic (NASDAQ:SYM) last released its earnings results on Monday, November 18th. The company reported $0.05 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.05. The firm had revenue of $576.77 million during the quarter, compared to analyst estimates of $470.24 million. Symbotic had a positive return on equity of 6.49% and a negative net margin of 0.32%. Symbotic’s revenue was up 47.2% compared to the same quarter last year. During the same period last year, the business posted ($0.08) earnings per share. As a group, research analysts forecast that Symbotic Inc. will post 0.12 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Symbotic news, CFO Carol J. Hibbard sold 22,821 shares of the company’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $28.96, for a total transaction of $660,896.16. Following the completion of the sale, the chief financial officer now directly owns 34,188 shares in the company, valued at $990,084.48. This represents a 40.03 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Michael David Dunn sold 63,867 shares of Symbotic stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $30.08, for a total transaction of $1,921,119.36. Following the sale, the insider now owns 24,055 shares in the company, valued at $723,574.40. This represents a 72.64 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 111,745 shares of company stock worth $3,261,675. 38.30% of the stock is owned by insiders.

Institutional Trading of Symbotic

Hedge funds have recently bought and sold shares of the company. Castleview Partners LLC grew its position in Symbotic by 50.0% in the third quarter. Castleview Partners LLC now owns 1,500 shares of the company’s stock worth $37,000 after acquiring an additional 500 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in Symbotic by 8.5% during the second quarter. The Manufacturers Life Insurance Company now owns 8,655 shares of the company’s stock worth $304,000 after buying an additional 679 shares during the last quarter. Van ECK Associates Corp raised its holdings in Symbotic by 28.4% during the third quarter. Van ECK Associates Corp now owns 3,497 shares of the company’s stock valued at $85,000 after buying an additional 774 shares in the last quarter. First Dallas Securities Inc. lifted its position in shares of Symbotic by 4.1% in the second quarter. First Dallas Securities Inc. now owns 20,100 shares of the company’s stock worth $707,000 after buying an additional 800 shares during the last quarter. Finally, National Bank of Canada FI increased its holdings in shares of Symbotic by 36.8% during the 3rd quarter. National Bank of Canada FI now owns 3,557 shares of the company’s stock valued at $87,000 after acquiring an additional 957 shares during the last quarter.

About Symbotic

Symbotic Inc, an automation technology company, engages in developing technologies to improve operating efficiencies in modern warehouses. The company automates the processing of pallets and cases in large warehouses or distribution centers for retail companies. Its systems enhance operations at the front end of the supply chain.